By Rich Harwood
August 2nd, 2013
Over the past few days I've done a run of radio interviews about Detroit's post-bankruptcy future. Among the messages I've felt compelled to express is the following: While the city faces steep financial challenges, don't sell off the soul of the community to balance the books.
Kevyn Orr, the emergency manager appointed by Michigan Gov. Rick Snyder, says that resolving the bankruptcy requires all "assets" to be on the table. Sadly, that includes promised pensions and health care for the city's retirees. It also includes the renowned art collection at the Detroit Institute of Art, valued at billions of dollars. Already, Christie's auction house has gone to the Institute to conduct appraisals.